Dollars, euros, and stable MLC for the second day in Cuba.

Could it be that the threat of prison had an effect and the buying and selling moved from classified ads to more private forums away from the public eye?

Current Affairs
Writing of CiberCuba

07/08/2024 - 8:02am (GMT-5) |

For the second consecutive day this Wednesday, currencies indicate stability in the Cuban informal market and do not rise or fall in price compared to the value they reached since Monday.

At 7:00 a.m. (local time) on this August 7, the US dollar remains rated at 320 CUP and the euro at 330 CUP.

The Freely Convertible Currency (MLC), for its part, continues to be valued at 280 pesos on average.

Could it be that the threat of jail had an effect and the buying and selling moved from classified ads to more private forums, away from the public eye?

It may be the question that many are asking today, as in recent months it has not been common for foreign currencies to report two consecutive days without changes in value in at least one of the reference currencies.

It should be remembered that last week an article published in Granma threatened Cuban citizens with up to five years in prison for turning to the informal market for currency trading, and emphasized that these street operations "affect the country's economic system."

"These actions are punishable by imprisonment of two to five years, or a fine of five hundred to one thousand quotas, or both," pointed out the official source, which also noted that any transaction involving the sale, assignment, transfer, or acquisition of foreign currency "is illegal and constitutes a crime."